Cape Verdean exports hit year's summit in July after declines in the H1. Tourism fraction interrupts import flows.
Caio Alves
Published 2020년 9월 10일
According to the most recent statistical report by the Bank of Cape Verde (BCV), exports totaled more than 2,654 million escudos (24 million euros) from January to July, essentially frozen fish and preserves .
In July alone, the monthly peak of the year in terms of exports from the archipelago, Cape Verde sold abroad 504.5 million escudos (4.56 million euros) in products (does not include tourism revenues). In June, exports had amounted to almost 391.7 million escudos (3.5 million euros), after the crashes of May, with 179.7 million escudos (1.6 million euros), and April, with 324.6 million escudos (2.9 million euros).
Of the total exports accounted from January to July in the BCV report, around 80% were seafood products, essentially canned fish and frozen fish, equivalent in value to more than 2,108 million escudos (19.1 million euros).
In 2019, Cape Verde exported goods totaling 6,113.2 million escudos (55.4 million euros), of which 4,856 million escudos (44 million euros) related to fishery products. In 2018, exports reached a record of 7,064 million escudos (64 million euros), of which 5,734 million escudos (52 million euros) of seafood products.
The Cape Verdean export industry is supported by sea products, such as fresh, frozen and canned fish, as well as crustaceans, being a small part in the manufacturing sector for footwear and clothing.
According to previous data from the National Institute of Statistics of Cape Verde, Spain is the country that most buys Cape Verdean products, with a share of over 60%, maintaining a strong activity in the canning industry, essentially on the island of São Vicente.
At the other hand due to the tourism retraction, a relevant sector in the country, food imports are gapping and declining because of Coronavirus interruptions.
In July alone, the monthly peak of the year in terms of exports from the archipelago, Cape Verde sold abroad 504.5 million escudos (4.56 million euros) in products (does not include tourism revenues). In June, exports had amounted to almost 391.7 million escudos (3.5 million euros), after the crashes of May, with 179.7 million escudos (1.6 million euros), and April, with 324.6 million escudos (2.9 million euros).
Of the total exports accounted from January to July in the BCV report, around 80% were seafood products, essentially canned fish and frozen fish, equivalent in value to more than 2,108 million escudos (19.1 million euros).
In 2019, Cape Verde exported goods totaling 6,113.2 million escudos (55.4 million euros), of which 4,856 million escudos (44 million euros) related to fishery products. In 2018, exports reached a record of 7,064 million escudos (64 million euros), of which 5,734 million escudos (52 million euros) of seafood products.
The Cape Verdean export industry is supported by sea products, such as fresh, frozen and canned fish, as well as crustaceans, being a small part in the manufacturing sector for footwear and clothing.
According to previous data from the National Institute of Statistics of Cape Verde, Spain is the country that most buys Cape Verdean products, with a share of over 60%, maintaining a strong activity in the canning industry, essentially on the island of São Vicente.
At the other hand due to the tourism retraction, a relevant sector in the country, food imports are gapping and declining because of Coronavirus interruptions.
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